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5 Problems Even Middle Income Millennials Are Facing

5 Problems Even Middle Income Millennials Are Facing

Who is the millennial? The world knows the millennials as being those young kids aged 20-30, who are now in college or trying to build their post-college lives. And the major feature that defines millennials is the fact they are broke! Like really broke, because they are drowning in student debt and unemployment.

However, there are a bunch of lucky millennials who did manage to stay on top of their finances and are now proud to be cast as middle income persons. They are the people the rest of the millennials are looking at with envy on social media, thinking how lucky they are. But are they really lucky?

1. Healthcare is still a major luxury

The Affordable Care Act was created to make healthcare affordable for everyone, but it ended up to be a huge fail. For millennials who earn more than the typical broke millennial, healthcare is one of the biggest luxuries out there.

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When you have a middle class income you don’t qualify for government subsidies, but you can’t afford to pay for healthcare either. This comes with a lot of other big problems, so there is no wonder many middle income millennials choose to pay the annual fine and take up the risk of not having any healthcare plan.

2. Kids? You can’t afford them!

When you are stuck between living an eternal financial adolescence and earning enough to afford your own place, kids are a delicate subject. The first requirement for having kids is to have a family, then, to afford the child.

Though only a few people would actually acknowledge it, a newborn costs pretty much, with the expenses growing as the child grows. Add the costs of the pregnancy and delivery, as well as general healthcare for the mother and the baby – and take a look at the previous point when it comes to healthcare – and then consider the unpaid maternity leave.

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All these requirements can’t be met, not even by middle-income millennials. As a result, they are the generation whose choice of having kids is not theirs to take.

3. Owning your own place is (still) impossible

If you do have a job and an income, one would believe you can buy your own house. Well, bad news: middle-income is not enough to buy a house. Or rent one, for a matter of fact.

The reality is that cities with a low cost of living are overwhelmed by people, which increases the cost of living. Moreover, where the good jobs are is where the highest rents can be found.

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Another problem which makes moving out from parents impossible is the way real estate developers are working. They are usually building low income houses in places where there are very low paying jobs or building luxury homes with million dollars price tags. There is no middle ground for your middle income, so you are left with no choices.

4. College can’t be avoided

There were times when students were leaving college with a degree in their hand and endless career opportunities. But those are long gone. Nowadays, college is just a formality. Having a degree means nothing, but not having it is even worse, because you won’t be able to apply for a decent job without it.

If our parents were able to pay their college tuition by working a summer job, now we have to pay the huge student debt from what we earn. This significantly diminishes a middle-income, impairing the person and preventing him or her from establishing a family and moving on.

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5. Retirement is a distant dream

The 9 to 5 job is now more of a 24/7 job, with small pauses, but the real problem seems to be the lack of retirement time. Regardless how much you earn, you will have to work an entire week well into your 60s, in order to pay for your debts, rent and make a living. Depending on what happens in your life, you might find yourself working after the retirement age.

With all these problems, there is no wonder most millennials choose to have a pet over a kid and still live with their parents instead of renting a cosmopolitan loft.

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Last Updated on March 24, 2021

8 Smart Home Gadgets You Need in Your House

8 Smart Home Gadgets You Need in Your House

We’ve all done it. We’ve gone out and bought useless gadgets that we don’t really need, just because they seemed really cool at the time. Then, we are stuck with a bunch of junk, and end up tossing it or trying to sell it on Ebay.

On the other hand, there are some pretty awesome tech inventions that are actually useful. For instance, many of the latest home gadgets do some of your work for you, from adjusting the home thermostat to locking your front door. And, if used as designed, these tools should really help to make your life a lot easier—and that’s not just a claim from some infomercial trying to sell you yet another useless gadget.

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Take a look at some of the most popular “smart gadgets” on the market:

1. Smart Door Locks

A smart lock lets you lock and unlock your doors by using your smartphone, a special key fob, or biometrics. These locks are keyless, and much more difficult for intruders to break into, making your home a lot safer. You can even use a special app to let people into your home if you are not there to greet them.

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2. Smart Kitchen Tools

Wouldn’t you just love to have a pot of coffee waiting for you when you get home from work? What about a “smart pan” that tells you exactly when you need to flip that omelet? From meat thermometers to kitchen scales, you’ll find a variety of “smart” gadgets designed to make culinary geeks salivate.

3. Mini Home Speaker Play:1

If you love big sound, but hate how much space big speakers take up, and if you want a stereo system that is no bigger than your fist, check out the Play:1 mini speaker. All you have to do is plug it in, connect, and then you can stream without worrying about any interruptions or interface. You can even add onto it, and have different music playing in different rooms.

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4. Wi-Fi Security Cameras

These are the latest in home security, and they connect to the Wi-Fi in your home. You can use your mobile devices to monitor what is going on in your home at all times, no matter where you are. Options include motion sensors, two-way audio, and different recording options.

5. Nest Thermostat

This is a thermostat that lives with you. It can sense seasonal changes, temperature changes, etc., and it will adjust itself automatically. You will never have to fiddle with a thermostat dial or keypad again, because this one basically does all of the work for you. It can also help you to save as much as 12% on heating bills, and 15% on cooling bills.

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6. Smart Lighting

Control your home lighting from your remote device. This is great if you are out and want to make sure that there are some lights on. It is designed to be energy efficient, so it will pay for itself over time because you won’t have to spend so much on your monthly energy bills.

7. Google Chromecast Ultra

Whether you love movies, television shows, music, etc., you can stream it all using Google Chromecast Ultra. Stream all of the entertainment you love in up to 4K UHD and HDR, for just $69 monthly.

8. Canary

This home security system will automatically contact emergency services when they are needed. This system offers both video and audio surveillance, so there will be evidence if there are any break-ins on your property. You can also use it to check up on what’s happening at home when you are not there, including to make sure the kids are doing their homework.

Featured photo credit: Karolina via kaboompics.com

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